Noah (NYSE:NOAH) Stock Price Up 6.7% – Still a Buy?

Noah Holdings Limited (NYSE:NOAH) rose 6.7% during trading on Monday . The company traded as high as $11.17 and last traded at $11.34. Approximately 60,232 shares were traded during trading, a decline of 68% from the average daily volume of 186,475 shares. The stock had previously closed at $10.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research note on Friday, November 29th. StockNews.com upgraded Noah from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $12.00 price objective (up previously from $10.50) on shares of Noah in a research note on Wednesday, March 5th.

Noah Stock Performance

The firm has a market capitalization of $739.24 million, a price-to-earnings ratio of 9.58 and a beta of 0.71. The business has a fifty day moving average price of $10.96 and a 200 day moving average price of $11.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 2,187 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Noah in the fourth quarter valued at about $39,000. Barclays PLC lifted its stake in shares of Noah by 14.0% during the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager’s stock worth $335,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Noah by 16.7% in the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock worth $323,000 after buying an additional 3,948 shares during the period. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Company Profile

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.